Neo Performance Materials (TSE:NEO) Stock Price Down 4.8% – Here’s What Happened

Shares of Neo Performance Materials Inc. (TSE:NEO) were down 4.8% during mid-day trading on Friday . The company traded as low as C$10.85 and last traded at C$11.27. Approximately 89,930 shares traded hands during trading, a decline of 5% from the average daily volume of 94,238 shares. The stock had previously closed at C$11.84.

Analyst Ratings Changes

Separately, Stifel Nicolaus lifted their price objective on shares of Neo Performance Materials from C$15.00 to C$16.50 and gave the stock a “buy” rating in a report on Wednesday, March 19th.

Neo Performance Materials Trading Down 6.2 %

The firm has a fifty day moving average price of C$9.38 and a 200-day moving average price of C$8.59. The company has a debt-to-equity ratio of 10.65, a current ratio of 2.59 and a quick ratio of 1.92. The company has a market capitalization of C$325.16 million, a P/E ratio of -145.91 and a beta of 1.38.

About Neo Performance Materials

Neo Performance Materials Inc engages in the manufacture and sale of rare earth, magnetic powders, magnets, and rare metal-based functional materials in Canada and internationally. The company operates in three segments: Magnequench, Chemicals and Oxides, and Rare Metals. The Magnequench segment produces magnetic powders that are used in bonded and hot deformed fully dense neodymium-iron-boron magnets; and bonded magnets.